Layoffs and More Layoffs: What About Online Video?
NBCU is reportedly laying off 500 people, or 3 percent of its staff. Adobe is cutting 600 jobs, or 8 percent of its work force. Viacom is letting go off 850, or 7 percent, of its employees. And last but not least, AT&T is laying off 12,000 people, or 4 percent of its staff.
All of these companies are moving their businesses online — and while the revenue might not be there yet, cutbacks to online video budgets could leave the companies stranded in the last century. So are they letting go of online video staffers or not?
NBCU: Probably. The layoffs are reportedly taking place across all units.
Adobe: No. “The layoffs are intended to help Adobe better focus on its growing online video and Internet-software business,” the WSJ quoted CEO Shantanu Narayen as saying.
Viacom: No. Sources say the layoffs hit their MTV Networks division the hardest, but not the digital groups.
AT&T: Doubtful. The telco has plenty of other troubled businesses. From the WSJ: “AT&T said it would also continue to hire in areas that are seeing faster growth, such as wireless and its nascent TV service.”
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